I made a video demonstrating the animation i\'m trying to accomplish: Here it is.
Notice the video illustrates the action as it would be seen from the side. The came
I found a way but its more like a hack. Do the following -
1)create a view with transparent background - (this view will translate) 2)create a subview of 1) - (this view will rotate).
Now use create two transforms, a scaling transform for view 1) and a rottaion transform for view 2) and apply them simultaneously.